|

Blockchain bridging protocol LayerZero to connect With Bitcoin sidechain rootstock

What to know

  • LayerZero plans to connect to Bitcoin sidechain Rootstock in what would be its first integration with the original blockchain.

  • Rootstock is designed to end Bitcoin's "isolation" from other chains.

LayerZero, the bridging protocol that allows different crypto networks to communicate with each other, plans to connect to Bitcoin sidechain Rootstock in what would be its first integration with the world's original blockchain.

Rootstock aims to end Bitcoin's "isolation" from other blockchains due to its lack of native smart contracts, a barrier that LayerZero is able to address, according an emailed announcement shared with CoinDesk on TK.

The Bitcoin blockchain lacks the functionality to offer smart contracts that other blockchains have and which are fundamental building decentralized finance (DeFi) services.

This lack of provision for DeFi on Bitcoin, which holds more value that every other blockchain combined, is an impediment to even greater adoption. That's prompting developers to seeking ways of tapping into the massive liquidity that is held in bitcoin (BTC) and allowing it to be bridged to rest of the crypto world.

With the connection between Rootstock and LayerZero, developers would be able to build applications on the Bitcoin sidechain that can communicate with the over 100 other blockchains, including Ethereum and Solana, Rootstock said in the announcement. 

Author

CoinDesk Analysis Team

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

More from CoinDesk Analysis Team
Share:

Editor's Picks

XRP rebounds as retail demand shows signs of returning

Ripple exhibits a subtle rebound outlook, trading near $1.10 at the time of writing on Thursday. The headwinds in the crypto market are largely attributable to mounting investor uncertainty amid renewed tensions in the Middle East.

Crypto Today: Bitcoin, Ethereum, XRP rise after defending key support amid renewed Middle East tensions

Cryptocurrency prices are broadly rebounding on Thursday, following a dominant sell-off largely attributed to geopolitical tensions in the Middle East. Bitcoin has risen and trades near $63,000, while Ethereum pares losses around $1,750 as bulls aim for a short-term breakout above $1,800.

Bitcoin stalls as mixed ETF flows, renewed US-Iran tensions cap upside

Bitcoin trades at $63,000 on Thursday, recovering slightly after facing rejection near $64,000. Renewed geopolitical uncertainty has dampened risk appetite, limiting BTC upside potential.

Aptos recovery eyes a breakout rally after crucial blockchain bug fix

Aptos price is up 3% at press time on Thursday after three consecutive days of weakness earlier this week. The recovery is likely linked to a crucial blockchain bug fix that exposed its entire Total Value Locked of over $100 million at risk.

Bitcoin: Quarter-end rebalancing might fuel BTC next bullish move
Bitcoin (BTC) is up over 3% so far this week, trading above $61,800 at the time of writing on Friday after slipping to a 21-month low earlier this week. Institutional selling continued, with spot Exchange Traded Funds (ETFs) recording net outflows of over $520 million through Thursday, pointing to the eighth consecutive week of withdrawals.